Jalaj’s market update for April 2020


Hi there guys, hope you are all keeping well and getting used to this new normal. As you can see, the number of new listings that came up on the market, were down by 58% compared to what we had seen the same time last year, and in comparison to March of this year, they were down by 56%. Along with that the number of sales reported were down by 62% from April of 2019, and from just a month ago, they were down by 54%. Amongst all this, the average sale price did not change from April of 2019, but in comparison to a month ago, we were down by 13%. On a brighter note, we are seeing average sale price year to date numbers trending 10% higher than what we had seen in 2019. Having said all this, we are still seeing homes selling within an average of three weeks and at or more than 99% of the list price. I feel with low inventory levels, high demand and low interest rates, we are going to see in the near future, both the activity and prices hold steady. Let’s all stay safe and healthy and we will talk soon.